US-based cryptocurrency companies have been pursuing bank licenses for some time because they need to grow their business. Regulators’ approach to cryptocurrencies has changed since Trump took office, and companies need to act quickly to take advantage of the opportunities created by this change.
BitGo and Ripple Bank License
According to the WSJ report, cryptocurrency company BitGo It received conditional approval from the OCC to achieve bank status. The Comptroller of the Currency Authority has made many statements that have made cryptocurrency investors happy in the last few weeks, and the last big good news is that BitGo has been allowed to be licensed as a bank.
With the approval, BitGo will transform its South Dakota-registered trust company into a U.S.-wide trust bank. With this approval, it will be authorized to hold certain non-deposit assets and will be able to offer crypto-related products without requiring state-by-state crypto-related approval. Final approval is expected to come soon.
Many cryptocurrency companies are also struggling to obtain a banking license in the United States. Bloomberg at the time of writing Ripple 
$0.00000000000000 National Trust Bank announced that conditional approval was given for the This probably indicates that today is the big day for crypto companies awaiting bank licences.
XRP Coin beware. As expected, BTC created a $3,000 bearish candle 1 hour after the market opening and cryptocurrencies continue to be annoying.
